Jurisdiction(s):
United Kingdom

Key definition

Equity definition

What does Equity mean? In corporate finance practice, equity means the risk-bearing capital provided by a company’s owners, usually through ordinary shares, as distinct from debt finance. Equity holders have the residual interest in profits and assets: returns are by dividend or capital growth, and they rank behind all creditors on insolvency. Equity commonly carries voting and control rights and is subject to company law capital maintenance and distribution rules (for example, dividends only out of distributable profits and statutory pre-emption on new share issues unless disapplied). It is central to capital structure, M&A, venture capital and private equity transactions. Practitioners also describe certain...

European Commission Phase II clearance: Huntsman’s acquisition of Rockwood pigments businesses (M.7061) subject to divestment of TR52 titanium dioxide grade for printing inks

Published by a LexisNexis Competition expert

Practice notes

CASE HUB ARCHIVED –this archived case hub reflects the position at the date of the decision of 10 September 2014; it is no longer maintained. See further, timeline.

Case facts

Outline of the European Commission phase II merger investigation into Huntsman Corporation’s planned acquisition of selected businesses from Rockwood Holdings (Case M.7061). The operation gives rise to a horizontal overlap in the supply of sulphate-based TiO 2 pigments, in particular titanium dioxide, especially grades for printing uses.

Latest developments

On 10 September 2014, the Commission cleared the transaction subject to commitments. The accepted remedy is Huntsman’s divestment of its TR52 business, its principal TiO 2 grade used for printing ink applications (for example inks employed in flexible Packaging). The divestment package comprises:

the TR52 brand;
associated technology and Know-how;
customer arrangements; and
certain key personnel.

Completion will not occur until a binding agreement for the sale of the divested business has been concluded and the proposed purchaser has been approved by the Commission...

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Web page updated on 21/05/2026

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